Form 4: Hanwha Aerospace Boosts NextDecade Stake with $6.1M Share Buy

Hanwha Aerospace Co., Ltd., a 10% owner of NextDecade Corp, significantly increased its direct beneficial ownership by acquiring over 932,000 shares of common stock across three transactions in December 2025.

Summary

• Hanwha Aerospace Co., Ltd. acquired a total of 932,598 shares of NextDecade Corp common stock through three separate transactions.
• On December 8, 2025, 39,467 shares were purchased at a weighted average price of $6.2581 per share, with prices ranging from $6.1100 to $6.4400.
• On December 9, 2025, 293,131 shares were purchased at a weighted average price of $6.3597 per share, with prices ranging from $6.2250 to $6.4150.
• On December 10, 2025, 600,000 shares were purchased at a weighted average price of $6.052 per share, with prices ranging from $5.8500 to $6.3999.
• Following these transactions, Hanwha Aerospace Co., Ltd. directly beneficially owns 24,768,251 shares of NextDecade Corp common stock.
• An additional 17,536,369 shares are indirectly beneficially owned through Hanwha Ocean LLC, which Hanwha Aerospace Co., Ltd. may be deemed to beneficially own.
• The total direct and indirect beneficial ownership reported is 42,304,620 shares.
• The transactions were made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 8

Explanation: The sentiment is positive due to significant insider buying by a 10% owner, indicating strong confidence in the company's future prospects and valuation. The transactions were also made under a Rule 10b5-1 plan, suggesting a deliberate investment strategy.

Positives

• A significant 10% owner, Hanwha Aerospace Co., Ltd., has increased its direct stake in NextDecade Corp, signaling confidence in the company's future.
• The acquisition of over 932,000 shares represents a substantial investment by a key stakeholder.
• The transactions were executed under a Rule 10b5-1(c) plan, indicating a pre-planned investment strategy.

Risks

• The reporting person disclaims beneficial ownership of the securities reported, except to the extent of its pecuniary interest therein, which could introduce ambiguity regarding the full extent of control or influence.
• The filing states that Hanwha Aerospace Co., Ltd. may be deemed a member of a 'group' that beneficially owns more than 10% of outstanding shares, but the reporting person disclaims membership in any such group, potentially indicating complex ownership structures or legal interpretations.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding NextDecade Corp's future performance or strategic direction.

Management Comments

• Jaeil Son, Chief Executive Officer of Hanwha Aerospace Co., Ltd., signed the filing.

Industry Context

This insider buying activity by a significant shareholder like Hanwha Aerospace Co., Ltd. in NextDecade Corp, a company focused on LNG development, could be interpreted as a positive signal for the long-term prospects of the LNG industry or NextDecade's specific projects, such as the Rio Grande LNG facility. It suggests continued strategic alignment and investment confidence from a major player in the broader energy and industrial sectors.

Related Party Transactions

• Hanwha Aerospace Co., Ltd. is a 10% owner of NextDecade Corp, making these share acquisitions transactions between related parties.

Stakeholder Impact

• Shareholders: Increased ownership by a major institutional investor could be seen as a vote of confidence, potentially influencing market perception and share price positively.
• Management: The increased stake by a significant owner may reinforce strategic alignment and long-term commitment.

Key Dates

Recommendation

The significant increase in beneficial ownership by a 10% owner, Hanwha Aerospace Co., Ltd., signals strong insider confidence in NextDecade Corp's future. Such substantial insider buying, especially under a pre-planned 10b5-1 program, often precedes positive developments or reflects a belief that the stock is undervalued. This action by a sophisticated investor suggests a favorable outlook, making it a 'buy' signal for seasoned investors.

Keywords

NextDecade Corp, NEXT, Hanwha Aerospace, Insider Buying, Form 4, Beneficial Ownership, Stock Acquisition, 10b5-1 Plan, LNG, Energy Infrastructure